Richard Reed’s start up tips

Richard Reed's top five start-up tips

What, in your opinion, is the most challenging aspect of setting up your own business?

It’s that point where you give up your job and give up your salary. That is a scary moment but, like most things in life, it’s worth the risk.

At want point did you stop considering Innocent Drinks a small, start-up business?

After about seven years, when we were available in Morrisons in Huddersfield. My mum rang and told me.

Innocent Drinks has long been held in high regard for its ethical practices. What advice would you have for those companies looking to implement their first CSR campaign?

I think when it comes to CSR, the most important thing to remember is that the greatest impact you're going to have with the business is through the nature of the product and the service that you make. 

So, firstly, make sure that that product and service is net positive for the society in which it exists. In addition to that, think about giving a percentage of profits to charity, because that's something that you can build into the business system: it's sustainable. 

Lastly, think about what you can do using the employees in your business to help the community in which you do business.

What are the biggest advantages and disadvantages of going into business with friends?

The biggest advantage of going into business with friends is that you know what you're getting into. You can trust them. You can be honest with them. You've got a sense of what they're good at and what they're not good at.

The downsides of going into business with them... I don't think there are any, personally. But you've got to maintain your professional relationship and you've got to maintain your friendship; don't let one confuse with the other. When in work, be in work mode and when you're out of work, be in friendship mode. Don't let one infiltrate into the other

 

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